HUL Q1 net profit rises 6 percent to Rs 1,897 crore
Jul 22, 2020
Hindustan Unilever Limited (HUL) posted a 6 percent rise in its consolidated net profit to Rs 1,897 crore ($254.5 million) for the first quarter ended June 30, as against a consolidated net profit of Rs 1,795 crore it reported in the year-ago period.
The company’s total income during the first quarter rose by 3 percent to Rs 10,885 crore, compared to the year-ago period’s Rs 10,509 crore.
HUL’s health, hygiene, and nutrition segments delivered healthy mid-single-digit domestic consumer growth during the quarte, while its personal care brand Lifebuoy delivered strong double-digit growth across formats.
Commenting on Q1 earnings, Sanjiv Mehta, chairman and managing director of HUL, in a statement said: “Our performance in the quarter has been resilient and reflective of the intrinsic strength of our portfolio. While constraints continue due to restrictions in several parts of the country and the near-term demand outlook remains uncertain, we remain well-positioned to drive competitive, profitable, and responsible growth. The long-term structural opportunity of FMCG in India also remains intact.”
HUL has significantly stepped up capacities in both hand wash and hand sanitizers segments to meet the consumer needs and expects strong growth going forward from these segments.
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